Bitcoin foe Peter Schiff has angered some Bitcoin supporters classification The leading cryptocurrency as a “meme coin”.
In his latest social media post, Schiff said it was “funny” to watch cryptocurrency enthusiast Anthony Pompliano try to define what a meme actually is during his recent interview with CNBC.
According to Schiff, there is no real difference between Bitcoin and some popular cryptocurrencies.
“So, it’s a good idea to walk through explaining the meme without exposing the same Bitcoin scam,” he said.
This debate comes amid the growing importance of cryptocurrencies in the cryptocurrency ecosystem. Some Bitcoin users, who lean toward more conservative views, have distanced themselves from the latest trend that they believe could be harmful to the broader industry.
Schiff has been an outspoken critic of Bitcoin since 2011 when the original cryptocurrency was still relatively unknown.
A prominent financial commentator has repeatedly rejected the idea that Bitcoin can compete with gold.
“Gold is real money,” he said recently. “That’s what the US Constitution says as well. But the value of gold comes from the tangible properties that led to it becoming money. Bitcoin is counterfeit gold.”
It often faces criticism from the community, with Bitcoin advocates arguing that the gold bug is trying to remain relevant by constantly referring to the cryptocurrency in a negative light.
However, Schiff recently stated that it was “popular” even before the pioneering cryptocurrency was created.
